Sezmi Adds Cash, Cuts Staff

Sezmi Inc., a Belmont, Calif.-based developer of a set-top box that combines traditional television content with on-demand movies and Internet video, has secured nearly $28 million of a $50 million Series C round, according to a regulatory filing. peHUB first reported on the deal back in August. Advanced Equities is serving as a placement agent, while participants include Morgenthaler Ventures and OmniCapital Group. In other Sezmi news, the company has laid of around 20 of its 100 employees.